Local Trade Copier™ Features

Tutorials, videos, and detailed instruction manuals

Local Trade Copier™ comes with step-by-step instructions, in-depth tutorials with screenshots, videos, and a quick start guide.

You can start copying trades in 5 minutes. The Local Trade Copier™ will work without any special configuration and by using its default settings. But if you need custom setup and advanced configuration, you’ll find every parameter explained in the detailed instructions manual.

• Local Trade Copier™ quick start guide
• Local Trade Copier™ installation (video tutorial)
• Local Trade Copier™ in-depth tutorials
• Local Trade Copier™ video tutorials
• Local Trade Copier™ instruction manuals

Support by email

You can reach us at support@ea-coder.com anytime. We’re here to help you! Also, you can send us a message on the Contact Us page. Our support team will get back to you as soon as possible (usually, we respond within 24-48 hours, Monday to Friday).

Fast trade duplication

Local Trade Copier™ will copy your trades in 1 second or faster under normal market conditions.

This Forex trade copier also allows you to control its synchronization rate.

If your strategy only uses pending orders, you can slow down your trade mirroring. It means the trade copier software will use fewer computer resources and have more Metatrader accounts on the same computer.

If you have an above-average computer (more powerful than usual), you can speed up your trade mirroring process.

Low CPU/Memory consumption

I designed the Local Trade Copier™ to use as little CPU and memory resources as possible. Typically, you can run ~4 Metatrader accounts on a regular VPS server with the trade copier EA.

VPS system requirements:

• 1x CPU ~2.6Ghz
• 1 GB RAM
• 10 GB disk space
• Windows Server 2008

Automatic pair suffix detection on master and client

If the broker on the Client account uses different symbol names than the broker on the Master account, the Local Trade Copier™ will detect and adapt automatically.
Example: Master account can have EURUSD, and the Client account can have EURUSD.fx pair. The Local Trade Copier™ will work just fine and take care of this automatically.
You also have an option to control this manually for more advanced configurations.

 Symbol mapping (GOLD=XAUUSD)

Often Client and Master accounts have different symbol names, especially for CFDs. If you have a GOLD symbol on the Master and XAUUSD on the Client, you can easily teach the Local Trade Copier™ to recognize this by using Custom Symbol Mapping settings.

 3rd party trades allowed

Local Trade Copier™ does not interfere with any 3rd party trades. It means you can have other Expert Advisors (Forex robots) trading on the same account with the Local Trade Copier™. You can also open additional trades manually on the same account, and the Local Trade Copier™ won’t touch them.

Support for “Partial Close”

Local Trade Copier™ will understand if trades get closed partially on the Master account and will repeat the same on each Client account. I also put extra work to make this “partial close” function work perfectly in such situations where you close a portion of a trade on the Client account when the Master still has a full trade. It works flawlesly and makes the LTC copier keep the connection between Master and Client trades. You can keep closing trades partially on either end in any order and the LTC copier will understand that.

 Support for “Close By”

Not many traders use “close by” (some even don’t know what that is), but if you are one of the traders using “close by” to close your trades on the Master account, then you’ll be happy to hear that the Local Trade Copier™ will understand this and repeat the same action on each Client account instantly.

Smart Trade Tracking technology

The essential thing in copy trading is to create a proper connection between the trades on Master and Client accounts. Local Trade Copier™ uses a Smart Trade Tracking algorithm to develop and maintain a link between each Master and Client trade. Think of it like every trade copied to a Client account has its parent trade (which is on the Master account) and if that connection is lost, the Client trade will become an orphan and stay unmanaged. Local Trade Copier™ avoids that thanks to the Smart Trade Tracking technology that uses multiple algorithms to prevent unmanaged trades.

 Intelligent Error Handling technology (Try Again)

Local Trade Copier™ is obsessed with copying every single trade, and it will do everything in its power to make that happen and not miss a single trade. However, the Forex market is full of unexpected situations like re-quotes, slippage, connection timeouts, and sometimes, these can prevent a Local Trade Copier™ from copying a trade. But despite all the copy trading challenges, the Local Trade Copier™ will use its Intelligent Error Handling algorithms and keep trying to copy every trade until it is open on the Master account.
In other words, I call this “copy or die trying” 🙂

Multiple Master Accounts

Local Trade Copier™ can copy trades from one or more Master accounts. You can have multiple Metatrader 4 or 5 accounts acting as Masters and copy all their trades to other Metatrader 4 or 5 accounts on the same computer.

Create separate groups of master/client accounts

By default, Local Trade Copier™ operates in group #1, and all Client accounts will see trades from all the Master accounts in that group. But there’s an easy way to create separate groups of master/client accounts to isolate them from each other.

It is a convenient way to have different copy trading setups on the same computer without fearing mixing them up accidentally.

Different copy trading setups:

• ONE-TO-MANY COPYCAT™ setup
• MANY-TO-ONE COPYCAT™ setup
• SMART INVESTOR BRIDGE™ setup
• Reverse Trading setup

Different account size

Local Trade Copier™ perfectly handles accounts of different sizes. If your Master account is bigger or smaller than any of the Client accounts, the Local Trade Copier™ will automatically adjust lot sizes to maintain the same risk in percentage. If the Master account is risking 1% to gain 5% on a $10,000 capital, the LTC copier will adjust the lot size accordingly so that the $50,000 Client account risks 1% to earn 5% as well.
Local Trade Copier™ has eight money management modes, and you can control this individually for every Client account.

Accounts running on different Windows User Profiles

If you have Metatrader 4 or 5 platforms running on the same computer but separate Windows User Profiles, then the Local Trade Copier™ can still copy trades between those accounts. A particular configuration is required, but it is effortless to set this up with the CustomWorkingDirectory parameter.

We have customers using Local Trade Copier™ to copy trades between 120 Metatrader accounts on the same dedicated server. The trick is to have 10 Windows User Profiles and 12 Metatrader accounts running inside each of them.

Copy trades from MT4 Mobile app (iPhone, iPad, Android)

MT4 Mobile app and MT5 Mobile app do not allow running of any Expert Advisors (Forex robots), and it means you cannot run Local Trade Copier™ on a mobile device. But the trick our customers and I use is to set up the Local Trade Copier™ with Metatrader accounts on a VPS server and then open and manage trades on the Master account from any mobile device.

The trick here is to log in to the same Master account on the Metatrader Mobile app and the VPS server. Then use Local Trade Copier™ to link that Master account with Client accounts on the same VPS server.

Investor password accounts

To copy trades from any MT4 or MT5 account, you need to attach the Server EA module of the Local Trade Copier™. It’s important to understand that it does not matter which password you use to log in to the Master account. You can log in using the primary password or an investor password (a.k.a. read-only password). What matters is that both passwords will allow you and LTC copier to see the trades on that account, and that’s enough to copy them.

Be careful not to fall into the trap of scammers when they give you an investor password to an insanely profitable account, but the trades appear on the account with the date and time in the past. That is known as a “PAMM scam”, and scammers use this trick by connecting Metatrader to a fake server from a fake broker who just feeds trades to the account with a delay. It’s like after you see a price movement that you are too late to catch, but you still add a trade as if you were there to take it, and of course, you avoid every situation that would give you a losing trade.

Any Forex broker with MT4 / MT5

Local Trade Copier™ works with any Forex broker that offers Metatrader 4 or 5 platforms. Our customers use Local Trade Copier™ with all kinds of Forex brokers, including IC Markets, Darwinex, Dukascopy, Pepperstone, OANDA, Forex.com, etc.

Limitations: Local Trade Copier™ for MT5 works only with MetaTrader 5 hedging accounts on the server-side. It does not work with Master accounts that are MT5 Netting accounts, but we are working on this and doing our best to bring this functionality as soon as possible. If the MT5 Netting account is on the client-side, the Local Trade Copier™ can work fine.

Any Metatrader account type

Local Trade Copier™ works with any Metatrader 4 or 5 account type: Demo, Real, ECN, STP, Raw, Standard, FIFO, etc.

Limitations: Local Trade Copier™ for MT5 works only with MetaTrader 5 hedging accounts on the server-side. It does not work with Master accounts that are MT5 Netting accounts, but we are working on this and doing our best to bring this functionality as soon as possible. If the MT5 Netting account is on the client-side, the Local Trade Copier™ can work fine.

Copy Forex, CFD, Commodities, Crypto, Index

Local Trade Copier™ works with any instrument you have on your Metatrader 4 or 5 account.

With the Local Trade Copier™, you can copy Forex, CFD, commodities, cryptocurrencies, index, stocks, etc. If it’s on Metatrader, you can copy it.

Different time zones

Local Trade Copier™ perfectly handles accounts that are in different time zones. You’ll notice that accounts from different brokers operate in different time zones, but that does not give any issues for the LTC copier to copy trades.

The only downside to this might be if the Master and Client accounts have different trading hours. It is pretty rare, but we’ve seen cases when the Master account opens a trade on Sunday while the trading is still closed for the Client account because it’s on a different broker. In such a case, the Client account would copy the trade later, when the trading hours begin for that broker and if the entry price is within allowed deviation according to your configuration (deviation).

Different leverage

Local Trade Copier™ will copy trades even if Master and Client accounts are of different leverage.

By default, Local Trade Copier™ will ignore leverage differences between Master and Client accounts. But if you want to protect Client capital from unexpected margin calls, you should make sure that Client accounts are of the same leverage as Master accounts or the Master does not use the leverage that’s too much to handle for Client accounts.

There is a protection parameter in the Local Tade Copier™ that you can turn on. It will lower the lot size automatically on the Client account if its leverage is smaller than the Master account leverage.

AA (Auto-Adjust to account size)

AA (Auto-Adjust to account size) is the default Money Management Mode (MMM), and it makes the Client EA change the lot size proportionally according to the size of the master and client accounts. It makes the Local Trade Copier™ risk the same percentage on the Client account as the Master.

AAM (Auto-Adjust and Multiply by X)

AAM (Auto-Adjust and Multiply by X) is very similar to AA mode. It also makes the Client EA change the lot size proportionally according to the size of the master and client accounts, but additionally, it can also multiply that by your chosen number (multiplier).

 Same lot size as on the master account

The “Same lot size as on the master account” option is relatively self-explanatory. If you choose this mode, the Client EA will always copy the same lot size no matter what.

Multiply by X

“Multiply by X” is another money management mode available in the Client EA. You can use this one to copy the trades and alter the lot size by multiplying it by a specific number (multiplier).

Fixed Lot Size

“Fixed Lot Size” is the most primitive way to set the lot size for the copied trades. In this mode, the Client EA ignores differences in account sizes or leverage differences. You can set your desired lot size, which will always be the same for all copied trades.

 Risk Per Trade (%)

“Risk Per Trade (%)” allows you to set your desired risk in percentage, for example, to risk 2% per trade. Client EA will use the size of the client account and a stop loss of each trade to calculate a proper lot size so that if the trade hits the stop loss, it will lose no more than 2%.

Risk Per Trade (Money)

“Risk Per Trade (Money)” is very similar to the “Risk Per Trade (%)”, but it allows you to set the risk in money, for example, to risk $500 per trade. Client EA will use the size of the client account and a stop loss of each trade to calculate a proper lot size so that if the trade hits the stop loss, it will lose no more than $500 (depends on the deposit currency).

 LMR (Lot Money Ratio)

LMR (Lot Money Ratio) is probably the most advanced money management mode in the Client EA, and it allows you to use a certain lot size for every account balance amount. For example, you can use 0.05 lot size for every $1,000 of the account balance. On a $5,800 account, the lot size would be 0.25 = 0.05 x round_floor($5,800 / $1,000).

 Adjust When Leverage Is Different To Protect Client Funds (when using AA or AAM)

This protection is available (but turned off by default) in the Client EA.
When Client EA is operating using AA or AAM money management mode (MMM) and the leverage size of the client account is smaller than the leverage of the master account, it will affect the lot size by making it smaller. If the leverage size match, then it won’t affect the lot size.

Copy if the price is within the range of X

You can tell the Local Trade Copier™ to copy trades only if the market price on the Client account is within a specific range defined in pips or number of spreads (i.e., 5 x Spread). LTC copier will delay copying any trades if it is outside of the allowed deviation range.

Copy only at a better price by X

You can tell the Local Trade Copier™ to copy trades only at a better price by X pips or X amount of spreads (i.e., 5 x Spread). LTC copier will delay copying any trade until it is possible to replicate it at a better price.

Copy at the same or any better price

You can tell the Local Trade Copier™ to copy trades only at the same or any better price. LTC copier will delay copying any trade until it is possible to replicate it at the same price as Master trade or any better price.

Copy at any price

You can tell the Local Trade Copier™ to copy trades at any price. In such a case, the LTC copier will never delay copying any trade and will copy it at any available price. It is a very useful configuration if you are trying to copy currently open trades that are way too far from the original entry price.

Copy only at a worse price by X

You can tell the Local Trade Copier™ to copy trades only at a worse price. LTC copier will delay copying any trade until it is possible to replicate it at a worse price by X. This one can be useful when reverse trading.

Copy within a range of X or any better price

You can tell the Local Trade Copier™ to copy trades only if the market price on the Client account is within a specific range or at a better price. LTC copier will delay copying any trade until it is possible to replicate it at a better price or if it’s within the allowed deviation range. In other words, you’ll get your trades copied at a better price or with a slight deviation, but not more than your chosen deviation range defined in pips or number of spreads.

Choose how you want to copy SL/TP

• Same value as on the master account
• Remove
• Multiply by X (Set below)
• Fixed X value in Pips/Points (Set X below)
• Double the size
• Cut in half (if possible)
• Increase by 10%

By default, Local Trade Copier™ will copy the same SL/TP as on the Master account, but you can also choose to remove stops altogether (copy trades without SL/TP), multiply stop by X, set a fixed stop size, and more.

Emergency Stop Loss

Local Trade Copier™ allows you to have emergency stop loss for every trade that does not have a stop loss on the Master account. If you are worried that your Master account may open trades without a stop loss, you still have an option to set it on the Client account.

Take Profit & Stop Loss (Money)

You can tell the Local Trade Copier™ to close all the trades when the profit or loss reaches a specific monetary value (in the account currency). It’s like a global hidden take profit or stop-loss, like telling to close all trades if floating profit reaches 100 USD or drops to -200 USD, as an example.

Evergreen profit-taking function

Local Trade Copier™ can take profit by closing all the trades on the Client account when the floating profit of open trades reaches a certain percentage. In other words, you can set LTC copier to close all trades when the account grows by 10% because of open trades.

Equity Stop function

Local Trade Copier™ can close all the trades and stop accepting any upcoming trades until restarted if account equity drops below a certain level.

You can find two equity protection functions in the “Capital Protection” section:

1. Close & Stop if Equity below X (money)
2. Close & Stop if Equity below X (%)

Wait for SL/TP

You can set the Local Trade Copier™ to always wait for the SL/TP level to hit on the Client account instead of closing the trade earlier following the Master account.